Oct 23 • 19M

Weekly Roundup: Business of Athletes, Sports, & NIL (October 16-22)

Lots of athlete investments, $400M+ headed towards sports venture funds, Roger Goodell's absurd salary, and more.

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A podcast breaking down the business of athletes, sports, and NIL. Every week I have convos with founders, athletes, and investors who are transforming the future of sports. For more info visit: https://profluence.com
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Audio Timeline:

0:35 - Feel good stories

  • Giving back with a 50-mile run across the Grand Canyon.

4:08 - Business of Athletes

  • Golf+, a VR golf platform raised a $6 million seed round with athlete investors including Tom Brady, Steph Curry, Mike Trout, and Rory McIlroy.

  • Christiano Ronaldo was named the most marketable athlete in the world according to SportsPro, with Serena Williams in 2nd and Lewis Hamilton in 3rd.

  • Sachin Tendulkar, one of India's most famous athletes, has become a strategic investor in the digital collectibles platform Rario.

  • Kevin Durant bought an MLP pickleball team.

  • Damian Lillard made his first tech investment in Kicks Crew, a digital sneaker platform.

  • Lionel Messi announced the launch of his new venture firm, Play Time, alongside experienced venture capitalist Razmig Hovaghimian.

7:30 - Name, Image, and Likeness

  • Division I schools can expect to receive further NCAA rules guidance related to name, image, and likeness activity as soon as next week

  • Sad weekend at San Jose State due to an unfortunate electric scooter accident.

  • Collegiate sport fan experience platform Mercury has raised $7.5 million in a seed round led by Multicoin Capital.

10:30 - Future of Sports

  • Will Ventures raised $150 million for Fund II, they will continue to invest in seed-stage companies in the consumer, health, sports, and entertainment sectors.

  • Next Play Capital, started by former Super Bowl champion Ryan Nece, has raised a $200M fund.

  • NFL commissioner Roger Goodell made $63.9M for the 2019-20 and 2020-21 seasons. Adam Silver (NBA) made $10M, Rob Manfred (MLB) earned $17.5M, and Gary Bettman (NHL) earned ~$10M.

  • EA Sports announced that it will be investing $11 million in women's soccer via its Starting XI Fund.

  • The Clippers are launching the NBA's first direct-to-consumer streaming service called "ClipperVision," which will feature 74 games and cost $199.99 for the season.

  • CoachMePlus, an enterprise-level digital fitness platform that helps coaches work with athletes to achieve their fitness and wellness goals, announced $1 million investment from angel groups.


Interesting Stat

This is wild…

NBA players paid $36M in fines last season (up from $6.9M the previous year).

The Most Fined Player From Every NBA Team: Ben Simmons And Kyrie Irving Lost A Combined $30 Million In The 2021-22 Season

That’s over $29,000/game — just including the regular season.

What’s to blame?

Well…NBA players make a lot of money (and sometimes the extra publicity from getting thrown out of a game is worth it). Basically a business expense at this point.


Short Passage of The Week:

  • Hold the door for others and pick up trash that's not yours.

  • Compliment people behind their backs and encourage people when they're down.

  • Include people when they feel left out and hold yourself to a high standard.

  • Share your life with people you love and admit when you are wrong.

  • Celebrate others when they succeed and stand up for people that can't stand up for themselves.

  • Have the courage to say no to things that could jeopardize your future.

  • Realize doing the right things for the right reasons will never go out of style. 

  • Be a good person.

Source: Lewis Caralla, Georgia Tech's Strength Coach


Tweet(s)

Mario Götze is setting a great example for athletes (both on and off the field):


Business Jargon

Changing this section up today…

Instead of me summarizing, I have some HIGHLY recommended reading.

Paul Graham’s essays (he’s the founder of Y Combinator which has funded over 3,000 companies and worked with over 6,000 founders).

Some of my favorites:
How to Make Wealth
How to Start a Startup
What We Look for in Founders
Why to Start a Startup in a Bad Economy
How to Be an Expert in a Changing World


Quote

I'm not sure who needs to read this today, but:

“Give yourself permission to show up, even when you're scared. You get one life. LIVE it. Let your dreams, hopes, and desires take root in your life. You never know who is waiting for you to bless them with your gift. Big or small — show up. We need you." ― Alex Elle, How We Hear

Thanks for tuning in today!

Peace,

-AP


Extra Credit

I was recently on the SIDELINE STORIES Podcast with Brendan Duggan (#14 used to get buckets by the way).

Image

We talked about an array of things including the future of sports, pickleball, and the business of athletes.

Spotify: spoti.fi/3CucGYm

Apple Podcasts: apple.co/3CyHJlT